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Evonik Signs Agreement to Sell its Acrylate-based Plastisols Business to Kaneka

Published on 2011-06-27. Author : SpecialChem

Evonik Industries signed a contract on the sale of its business in acrylate-based plastic additives and plastisols, including two production plants in Wesseling, Germany. The Kaneka Corporation, a Japanese chemical company, is the buyer. The transaction will affect some 30 employees at the Wesseling site, who will be offered to stay on, and is pending approval by the anti-trust authorities. Both parties have agreed not to disclose the selling price.

The plastic additives produced in Wesseling are used as processing aids or impact modifiers for PVC and engineering plastics. Plastisols are used in the automotive industry as a PVC substitute for underbody protection and as sealants.

About Kaneka

Kaneka Corporation was established in 1949. Business activities span a broad spectrum of markets ranging from plastics, EPS resins, chemicals and foodstuffs to pharmaceuticals, medical devices, electrical and electronic materials and synthetic fibers. The Company has been a leader among Japanese chemical companies in establishing overseas operations, beginning in 1970 with a subsidiary in Belgium. Kaneka has overseas subsidiaries in Belgium, the United States, Singapore, Malaysia, China, India, Australia and Vietnam.

About Evonik

Evonik is the creative industrial group from Germany. In our core business of specialty chemicals, we are a global leader. In addition, it has energy and residential real estate operations. Our performance is shaped by creativity, specialization, reliability and continuous self-renewal.

Evonik is active in over 100 countries around the world. In fiscal 2010 more than 34,000 employees generated sales of around €13.3 billion and an operating profit (EBITDA) of about €2.4 billion.

Forward Looking Statements

In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.

Source: Evonik


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